Micron Technology (NASDAQ:MU) Upgraded by Robert W. Baird to “Outperform”

Micron Technology (NASDAQ:MU) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Monday, Marketbeat Ratings reports. The firm presently has a $150.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $115.00. Robert W. Baird’s price objective would indicate a potential upside of 25.83% from the company’s current price.

Several other research analysts also recently weighed in on MU. JPMorgan Chase & Co. increased their price target on Micron Technology from $105.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Monday, March 18th. Stifel Nicolaus reiterated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Friday, April 12th. Citigroup reiterated a “buy” rating and set a $150.00 price target on shares of Micron Technology in a research note on Thursday, April 4th. Finally, TD Cowen increased their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $123.60.

Micron Technology Trading Down 0.8 %

Shares of Micron Technology stock opened at $119.21 on Monday. Micron Technology has a 1 year low of $59.55 and a 1 year high of $130.54. The firm has a market cap of $131.61 billion, a PE ratio of -34.55 and a beta of 1.27. The stock has a fifty day moving average price of $110.11 and a 200-day moving average price of $90.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the firm posted ($2.03) EPS. The business’s revenue was up 57.7% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology will post 0.24 EPS for the current year.

Insider Buying and Selling

In other news, EVP Scott J. Deboer sold 40,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total value of $4,412,400.00. Following the completion of the sale, the executive vice president now owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the transaction, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the sale, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The disclosure for this sale can be found here. Insiders sold 316,890 shares of company stock worth $35,485,387 in the last quarter. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. DecisionPoint Financial LLC bought a new position in Micron Technology during the 1st quarter valued at approximately $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares in the last quarter. Tidemark LLC purchased a new stake in Micron Technology in the fourth quarter worth $25,000. Pingora Partners LLC bought a new stake in Micron Technology in the fourth quarter valued at $26,000. Finally, Riverview Trust Co purchased a new position in Micron Technology during the 1st quarter valued at $39,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.